Does the JW Media Player with Captions Plugin work with YouTube Captions

Am using JW Media Player Wordpress plugin to display YouTube video that, on YouTub,e displays captions properly. If my client buys the Captions plugin to go along with the licenced JW Player, will the player use and display the captions from YouTube or must captions come from a local file?

If from a local file, must a new player be created for each video, which of course has a unique caption file. Can this be controlled using WP shortcode?